<p>A gauge of Asian shares fell for a third straight session on Friday as jitters over next week's US presidential election and a shaky global economic outlook enveloped markets.</p>.<p>E-Mini futures for S&P500 skidded 1.5%, a signal Wall Street would open in the red later in the day.</p>.<p>In early European trade, the pan-region Euro Stoxx 50 futures were down 0.4%, German DAX futures slipped 0.3% while London's FTSE futures were a shade weaker.</p>.<p>MSCI's broadest index of Asia-Pacific shares outside of Japan was last down 0.1%, on track to the end the week 1.1% lower after four straight weeks of gains.</p>.<p>Still, the index has risen 3.8% in October so far, and analysts expect this broader outperformance to extend further.</p>.<p>"For a crisis of this scale, Asian equities have performed remarkably well," Citi analysts wrote in a note.</p>.<p>"Within the region, markets with a higher weighting of technology stocks or where the recovery has become more entrenched have outperformed," they added.</p>.<p>"This solid performance can continue, in our view. Valuations are reasonable for an early stage of a recovery while liquidity is generous. There has also been a perceptible drop in volatility in recent months."</p>.<p>The mood on Friday was less positive, though.</p>.<p>Australia's ASX 200 fell 0.5% and New Zealand's benchmark index faltered nearly 1%. Japan's Nikkei slipped 0.85% and was set for its biggest weekly loss in more than two months.</p>.<p>Chinese shares, which had started marginally higher, eased too with the blue-chip index off 0.1%.</p>.<p>Record numbers of coronavirus cases worldwide and the Nov. 3 US presidential election remained the major focus for investors. On Wednesday, global coronavirus cases rose by over 500,000 for the first time, with France and Germany prepping fresh lockdowns.</p>.<p>The falls in Asia occurred despite a solid session on Wall Street overnight, which was helped by a diet of strong quarterly reports from tech giants and data showing the US economy grew at a record annualised pace of 33.1% in the third quarter.</p>.<p>"Even with the rebound, US output remains 3.5% below its pre-Covid levels. The path towards recovery is much less clear from here, especially as the number of virus cases grows and there are near-term impediments to a fiscal deal," wrote ANZ analysts in a note.</p>.<p>The European Central Bank committed to further action in December to further lend economic support as European nations grappled with a renewed coronavirus outbreak.</p>.<p>Analysts expect an expansion and extension of the ECB's Pandemic Emergency Purchase Programme, a lower deposit facility rate, and even more generous lending terms for banks in December.</p>.<p>The announcement sent the euro sliding to a four-week low of $0.1648 to be last at $1.1679.</p>.<p>The dollar was weaker against the Japanese yen at 104.34 while the risk-sensitive Australian dollar rose 0.2% to $0.7043.</p>.<p>In commodities, oil picked up after hitting a five-month low on Thursday, with Brent crude futures up 15 cents at $37.80 a barrel and US crude adding 5 cents at $36.22.</p>.<p>Gold rose, with spot prices climbing 0.4% to $1,874.06 an ounce.</p>.<p>(Reporting by Swati Pandey in Sydney and Pete Schroeder in New York; Editing by Tom Brown, Gerry Doyle and Kim Coghill)</p>
<p>A gauge of Asian shares fell for a third straight session on Friday as jitters over next week's US presidential election and a shaky global economic outlook enveloped markets.</p>.<p>E-Mini futures for S&P500 skidded 1.5%, a signal Wall Street would open in the red later in the day.</p>.<p>In early European trade, the pan-region Euro Stoxx 50 futures were down 0.4%, German DAX futures slipped 0.3% while London's FTSE futures were a shade weaker.</p>.<p>MSCI's broadest index of Asia-Pacific shares outside of Japan was last down 0.1%, on track to the end the week 1.1% lower after four straight weeks of gains.</p>.<p>Still, the index has risen 3.8% in October so far, and analysts expect this broader outperformance to extend further.</p>.<p>"For a crisis of this scale, Asian equities have performed remarkably well," Citi analysts wrote in a note.</p>.<p>"Within the region, markets with a higher weighting of technology stocks or where the recovery has become more entrenched have outperformed," they added.</p>.<p>"This solid performance can continue, in our view. Valuations are reasonable for an early stage of a recovery while liquidity is generous. There has also been a perceptible drop in volatility in recent months."</p>.<p>The mood on Friday was less positive, though.</p>.<p>Australia's ASX 200 fell 0.5% and New Zealand's benchmark index faltered nearly 1%. Japan's Nikkei slipped 0.85% and was set for its biggest weekly loss in more than two months.</p>.<p>Chinese shares, which had started marginally higher, eased too with the blue-chip index off 0.1%.</p>.<p>Record numbers of coronavirus cases worldwide and the Nov. 3 US presidential election remained the major focus for investors. On Wednesday, global coronavirus cases rose by over 500,000 for the first time, with France and Germany prepping fresh lockdowns.</p>.<p>The falls in Asia occurred despite a solid session on Wall Street overnight, which was helped by a diet of strong quarterly reports from tech giants and data showing the US economy grew at a record annualised pace of 33.1% in the third quarter.</p>.<p>"Even with the rebound, US output remains 3.5% below its pre-Covid levels. The path towards recovery is much less clear from here, especially as the number of virus cases grows and there are near-term impediments to a fiscal deal," wrote ANZ analysts in a note.</p>.<p>The European Central Bank committed to further action in December to further lend economic support as European nations grappled with a renewed coronavirus outbreak.</p>.<p>Analysts expect an expansion and extension of the ECB's Pandemic Emergency Purchase Programme, a lower deposit facility rate, and even more generous lending terms for banks in December.</p>.<p>The announcement sent the euro sliding to a four-week low of $0.1648 to be last at $1.1679.</p>.<p>The dollar was weaker against the Japanese yen at 104.34 while the risk-sensitive Australian dollar rose 0.2% to $0.7043.</p>.<p>In commodities, oil picked up after hitting a five-month low on Thursday, with Brent crude futures up 15 cents at $37.80 a barrel and US crude adding 5 cents at $36.22.</p>.<p>Gold rose, with spot prices climbing 0.4% to $1,874.06 an ounce.</p>.<p>(Reporting by Swati Pandey in Sydney and Pete Schroeder in New York; Editing by Tom Brown, Gerry Doyle and Kim Coghill)</p>